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Popular, Inc. (NASDAQ:BPOP), a state commercial bank headquartered in Puerto Rico with a market capitalization of $7.16 billion and a robust financial health score of "GOOD" according to InvestingPro, announced the results of its Annual Meeting of Shareholders held on Thursday, May 8, 2025. The company reported the outcomes of the shareholder votes on several key proposals, according to a recent 8-K filing with the Securities and Exchange Commission.
During the meeting, shareholders voted on three primary items. The first proposal was the election of directors, where eleven individuals were elected to serve a one-year term on the board until the next annual meeting in 2026. The results showed strong support for the nominees, with each candidate receiving a significant majority of the votes cast.
The second proposal, known as the "Say-on-Pay" advisory vote, concerned the approval of the compensation of the Corporation’s Named Executive Officers. Shareholders voted in favor of the executive compensation package, indicating general approval of the company’s pay structure for its top executives. This comes as Popular demonstrates strong financial performance, with a P/E ratio of 10.7 and consistent dividend payments maintained for 11 consecutive years, as reported by InvestingPro.
The third proposal involved the ratification of the appointment of PricewaterhouseCoopers LLP as the company’s independent registered public accounting firm for the year 2025. This proposal was also approved by the shareholders, ensuring the continuation of PricewaterhouseCoopers LLP’s services for the current fiscal year.
Additionally, the filing included details about the company’s securities registered pursuant to Section 12(b) of the Act, mentioning the Common Stock with a par value of $0.01 per share and the 6.125% Cumulative Monthly Income Trust Preferred Securities, both traded on The NASDAQ Stock Market under the symbols BPOP and BPOPM, respectively.
The report was signed by José R. Coleman Tió, Executive Vice President and Chief Legal Officer of Popular, Inc., and was filed in compliance with the requirements of the Securities Exchange Act of 1934. The filing also noted that the cover page is formatted in Inline XBRL, with the Cover Page Interactive Data File included in Exhibit 101. Currently trading near its 52-week high of $106.81, Popular’s stock has shown strong momentum with a 13.5% return over the past year. For deeper insights into Popular’s valuation and growth prospects, including exclusive analysis and Fair Value estimates, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Popular Inc . reported its first-quarter 2025 earnings, exceeding analysts’ expectations with an earnings per share (EPS) of $2.56, compared to the forecast of $2.19. However, revenue slightly missed projections, coming in at $757.66 million against the anticipated $765.38 million. Notably, Keefe, Bruyette & Woods, a financial services research firm, raised its price target for Popular Inc. shares to $125, maintaining an Outperform rating due to the company’s strong quarterly performance. The firm noted improvements in Popular’s profitability, driven by growth in pre-provision net revenue and better-than-expected credit trends.
The company’s net interest income increased by $15 million, with a net interest margin expansion of 5 basis points to 3.4%, indicating strong operational momentum. Popular Inc. also reported a rise in loan balances by $146 million and deposit balances by $935 million. In light of these developments, Keefe, Bruyette & Woods adjusted their earnings estimates upward for Popular Inc., reflecting confidence in the company’s future growth prospects.
Furthermore, Popular Inc. has revised its loan growth guidance to the lower end of its previous 3-5% range, reflecting cautious optimism amid economic uncertainties. The company’s strategic focus on maintaining strong regulatory capital levels and improving credit quality metrics has been emphasized in recent analyst discussions. These recent developments highlight Popular Inc.’s robust financial performance and strategic positioning in the market.
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